FPCCI Prepares Research Report On Export Oriented Sectors

KARACHI, (UrduPoint / Pakistan Point News - 21st May, 2018 ) :Research and Development Department of Federation of Pakistan Chambers of Commerce and Industry has prepared a detailed document on the issues of Pakistan's exports.

The study was conducted in consultation with the Exports Advisory Committee of FPCCI which was formed in compliance with the prime minister's directive to submit proposals for enhancing country's exports, an FPCCI press release Monday said.

The report contains issues of the export oriented sectors including textile, which had the largest share in the country's exports. About the textile sector, it noted that Pakistan's competitors had set targets for textile exports whereas Pakistan did not.

The report also identified various problems being faced by textile sector including the high cost of doing business, approximately 11 percent multiple taxes and surcharges, low production of cotton bales, limited implementation of Government announced support in strategic textile policy framework and textile package, in-competitive utility and raw materials to the textile sector.

The report explored that the China's export of textile products share is 36 percent, Vietnam contributes 12.4 percent similarly Pakistan's share is 7 percent. Therefore a trilateral products specific agreement between China, Pakistan and Vietnam will acquire 50% share of the global textile market. APP/ah/ms